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2:35 PM ET, August 1, 2011


 Top Items: 
Paul Krugman / New York Times:
The President Surrenders  —  A deal to raise the federal debt ceiling is in the works.  If it goes through, many commentators will declare that disaster was avoided.  But they will be wrong.  —  For the deal itself, given the available information, is a disaster, and not just for President Obama and his party.
New York Times:
To Escape Chaos, a Terrible Deal  —  There is little to like about the tentative agreement between Congressional leaders and the White House except that it happened at all.  The deal would avert a catastrophic government default, immediately and probably through the end of 2012.
Michael O'Brien / The Hill:
Mitt Romney opposes compromise deal on the debt ceiling  —  Former Massachusetts Gov. Mitt Romney (R) broke his silence on the congressional debt-ceiling fight on Monday, emerging to say he couldn't back the final deal announced Sunday.  —  Romney, who had refused to weigh in during recent weeks …
Jonathan Chait / The New Republic:
Did Obama Get Rolled?  —  The debt ceiling agreement is a horrible piece of legislation.  It ratchets down already too-low domestic discretionary spending caps and imposes painful sacrifice on the middle class with little asked of the rich.  Obviously, though, you can't assess any deal without asking “compared to what?”
Marc A. Thiessen / Washington Post:
How the Tea Party ‘hobbits’ won the debt fight  —  The Tea Party came under fire from all sides Friday after House conservatives nearly brought down Speaker John Boehner's debt-limit bill.  John McCain went to the Senate floor to mock Tea Partyers as “hobbits,” and Democratic Rep. Chris Van Hollen …
Wall Street Journal:
A Tea Party Triumph  —  The debt deal is a rare bipartisan victory for the forces of smaller government.  —  If a good political compromise is one that has something for everyone to hate, then last night's bipartisan debt-ceiling deal is a triumph.  The bargain is nonetheless better …
Glenn Greenwald / Salon:
The myth of Obama's “blunders” and “weakness”  —  With the details of the pending debt deal now emerging (and for a very good explanation of the key terms, see this post by former Biden economic adviser Jared Bernstein), a consensus is solidifying that (1) this is a virtually full-scale victory …
Jay Newton-Small / Swampland:
Five Things for Liberals to Like in the Debt Ceiling Deal
Peter Wallstenand David Nakamura / Washington Post:
Did Obama capitulate — or is this a cagey move?
Elise Foley / The Huffington Post:
Durbin: Debt Deal Will Be The Death Of Keynesian Economics
Joe Klein / Swampland:
Krugman Quibble
Discussion: Guardian
CBO's Latest 10 Documents:
CBO ANALYSIS OF AUGUST 1 BUDGET CONTROL ACT  —  Letter to the Honorable John Boehner and the Honorable Harry Reid  —  The Congressional Budget Office (CBO) has estimated the impact on the deficit of the Budget Control Act of 2011, as posted on the Web site of the House Committee on Rules on August 1, 2011.
Josh Barro / National Review:
Debt Ceiling Deal—Less Than Meets the Eye  —  My stated preference has long been for a clean debt ceiling hike.  Failing that, I wanted to see a debt ceiling deal that contained as little policy as possible, or at least very little bad policy.  This deal meets those criteria, and I am satisfied.
Ezra Klein / Washington Post:
A deal that found the lowest-common denominator  —  (Alex Wong - VIA BLOOMBERG) Assuming no hiccups in the House — and that might be a big assumption — we've got a deal.  The deficit-reduction side includes $1 trillion in cuts now, $1.5 trillion (or more) in deficit reduction later, and a vote on a balanced budget amendment.
Kevin Drum / Mother Jones:
Why the Debt Ceiling Deal Sucks
Discussion: Daily Kos
Ezra Klein / Washington Post:
Winners and losers: policy edition
Matthew Yglesias / ThinkProgress:
The Hostages Next Time  —  I remember last December sitting …
Discussion: Firedoglake
The Hill:
WHIP COUNT: House leaders in both parties seek votes to pass debt-limit deal  —  The debt-limit deal announced on Sunday night is expected to attract more than 60 votes in the Senate, but its outlook in the House is much more cloudy.  —  Speaker John Boehner (R-Ohio) will need Democratic votes …
Nicholas Schmidle / New Yorker:
Alicia M. Cohn / The Hill:
Sen. McCain credits the Tea Party for deficit agreement  —  Days after comparing its members to hobbits, Sen. John McCain (R-Ariz.) on Monday credited the Tea Party for its role in pushing for a deficit deal.  —  “I don't think without the Tea Party we would have had an agreement,” McCain said.
Peter Beinart / Yahoo! News:
How the Tea Party Won the Deal
Benjy Sarlin / TPMDC:
Romney Breaks Debt Ceiling Silence: ‘Cannot Support This Deal’  —  After a week of attacks from left and right alike over his failure to take a position on the latest round of Republican debt ceiling proposals, Mitt Romney has made up his mind on the final deal: he's against it.
Rasmussen Reports:
Romney, Perry, Bachmann Run Close Among GOP Primary Voters
The Politico:
Debt ceiling agreement a fair compromise?  —  David Mark  —  Moderator :  —  Facing the imminent prospect of default, the White House and Senate Republicans worked through Sunday to close a debt ceiling deal that gives President Barack Obama greater certainty in managing the Treasury's borrowing needs …
Discussion: Salon
Matthew Dickinson / Presidential Power:
Did Obama Cave?  —  In his first public comments since …
Lydia Saad / Gallup:
U.S. Political Ideology Stable With Conservatives Leading  —  Most Republicans are conservative, but one in five is “very conservative”  —  PRINCETON, NJ — Americans' political ideology at the midyear point of 2011 looks similar to 2009 and 2010, with 41% self-identifying as conservative, 36% as moderate, and 21% as liberal.
Jennifer Epstein / The Politico:
Gene Sperling: Obama 'didn't give one inch'  —  Top White House advisors on Monday said President Barack Obama didn't give “one inch” and expressed confidence that the compromise bill to raise the debt ceiling will pass Congress, while Sen. John McCain said the deal has “significant advantages” that should attract Republican support.
Andrew Malcolm / Top of the Ticket:
More bad poll news for Obama as debt deal brings smiles to Capitol Hill
Rick Manning / Pundits Blog:
No deal better than a bad deal  —  When it takes about five minutes for President Obama and Senate Majority Leader Harry Reid (D-Nev.) to sign on to a new debt deal, perhaps Republicans should look for the trapdoors.  —  Based upon press reports, here are just four.
Discussion: The Note
New York Post:
Floundering Obama aims for '12 miracle
Discussion: National Review
Greg Sargent / Washington Post:
Memo to Congress: With deficit deal done, time for that pivot to jobs  —  I'll forgive you in advance for being skeptical of what I'm about to tell you.  But there's finally a glimmer evidence that officials are beginning to talk about that long-promised pivot to jobs that seemed to get snuffed …
Discussion: Washington Monthly and Angry Bear
Lee Fang / ThinkProgress:
Pam Geller Justifies Breivik's Terror: Youth Camp Had More ‘Middle Eastern or Mixed’ Races Than ‘Pure Norwegian’  —  Pam Geller with House Majority Leader Rep. Eric Cantor (R-VA)  —  Popular hate blogger Pam Geller has received scrutiny in recent days as the public became aware …
Rep. Ron Paul / Economy & Budget:
When a cut is not a cut  —  One might think that the recent drama over the debt ceiling involves one side wanting to increase or maintain spending with the other side wanting to drastically cut spending, but that is far from the truth.  In spite of the rhetoric being thrown around …
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 More Items: 
Matthew Yglesias / ThinkProgress:
Me: Talking About Books  —  I did a “Five Books” interview …
Discussion: Eschaton
Simonhernandezarthur / CNN:
Sen. Lee threatens to filibuster debt ceiling vote
Russell Berman / The Hill:
House to take up debt deal first; vote possible Monday night
David Frum / CNN:
Wake up GOP: Smashing system doesn't fix it
Robert Barnes / Washington Post:
College affirmative action back on Supreme Court's horizon
Discussion: SCOTUSblog
Jeffrey Goldberg / The Atlantic Online:
The Texas Congressman and the Israeli Fascist
 Earlier Items: 
Matt Lewis / The Daily Caller:
“The credit belongs to the man who is actually in the arena,” …
Discussion: GOP 12
Thomas Lane / Talking Points Memo:
Waking Up With A Horse's Head In Your Bed
Discussion: Althouse
Mickey Kaus / The Daily Caller:
1) Exactly why is it important that the “sequester"-the across …
Christian Heinze / GOP 12:
Palin film disappears at box office